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  • Icahn Believes AAPL is Headed for $240

    Here's a headline you haven't seen in about five minutes: billionaire investor and major Apple shareholder Carl Icahn believes shares of AAPL are going up.

    Icahn believes Apple is just at the beginning of a major upward move on Wall Street, fueled by new and refreshed products that will continue to permeate the globe, as well as a thriving digital products marketplace.

    So where exactly does Icahn believe AAPL is headed? Icahn says Apple should already be $240 per share. But since it's not, that's where it is going.

    "It is our belief that large institutional investors, Wall Street analysts and the news media alike continue to misunderstand Apple and generally fail to value Apple's net cash separately from its business, fail to adjust earnings to reflect Apple's real cash tax rate, fail to recognize the growth prospects of Apple entering new categories, and fail to recognize that Apple will maintain pricing and margins, despite significant evidence to the contrary Collectively, these failures have caused Apple's earnings multiple to stay irrationally discounted, in our view," Icahn wrote today.

    To read the full post from the always insightful and often controversial financial titan, click here.

    Source: Carl Icahn (via ShareHoldersSquareTable)
    This article was originally published in forum thread: Icahn Believes AAPL is Headed for $240 started by Michael Essany View original post